To a large warmed skillet over medium heat, add 1/4 cup of olive oil. Sprinkle the rabbit with salt and pepper, to taste. Add the rabbit to the hot oil and brown on both sides. Remove the rabbit to a medium-size casserole dish.

In that same skillet, over medium heat, add more olive oil. Add the mushrooms and shallots and saute for about 2 minutes. Transfer the mushroom mixture to the casserole. Sprinkle the flour, thyme, parsley and the bay leaf over the rabbit and stir in the tomato sauce, wine, and the beef broth. You may add a pinch more of salt and pepper if you wish. Cover with foil and put in the oven to bake until the rabbit is tender, stirring every hour, about 2 to 3 hours. Rabbit meat should pull off easily from the bone with a fork. Remove from the oven and serve.